Tuesday, 18 October 2022

Rise in Application of Robotics in Medical Field Propelling the Healthcare Industry

 



The healthcare industry as a whole is undergoing significant transformations in order to improve or maintain high-quality care while reducing costs. Factors like the ageing population and disparities in care standards between developed and developing economies make resolving these issues difficult. As it is the most effective treatment option, minimally invasive surgery has a lot of potential in the healthcare industry. Robotics has gained a lot of traction in the healthcare industry over the last few years. 


 The market for robotic-assisted imaging technologies is expected to expand rapidly over the forecast period, owing to rising chronic disease incidence, an ageing global population, improved reimbursement policies, and government initiatives and funding to develop technologically advanced products. The market’s growth slowed slightly in 2020 due to the COVID-19 pandemic; however, the market began to recover in 2021 and is expected to rise steadily through the end of 2030. 
 
The global robotic-assisted imaging technologies market is influenced by a number of factors. The rise in minimally invasive surgical procedures around the world, evolution in image modalities and features, and increased use of robotics in the medical field are all factors that are positively impacting the market’s growth. Some factors, on the other hand, will have a growth-limiting effect on the market. The major barriers to market growth are robotic failures leading to a low rate of adoption, lack of acceptance of robotic procedures, and an increase in the use of robotics in the medical field. 

According to BIS Research, Global Robotic-Assisted Imaging Technologies Market was valued at $617.7 million in 2020 and is projected to reach $2,207.8 million by the end of 2030, growing at a CAGR of 13.74% during the forecast period 2021-2030. 



The healthcare industry is evolving, with a focus on more informative advanced tools rather than traditional approaches. Robotic-assisted imaging technologies, for example, have been created to provide more precise and optimal diagnostic results. Despite the availability of a variety of strategies, the market’s hold on technology is fragmented and incomplete. 

By introducing technologically advanced products, robotic-assisted imaging technologies have revolutionised diagnostics practices. Robotic-assisted imaging systems are quickly becoming the most lucrative opportunities for major corporations, with many companies focusing solely on developing multiple diagnostic and treatment-focused products. The prominent players in this market are Becton, Dickinson and Company, Boston Scientific Corporation, Terumo Corporation, Varian Medical Systems, Inc., Eckert & Ziegler BEBIG AG, HealthTronics, Inc., Teleflex Incorporated, and Johnson & Johnson among others.

BIS RESEARCH’S TAKE ON THE INDUSTRY

What is the addressable market size and forecast based on region?

North America dominates the global robotic-assisted imaging technologies market. The highest market share of the North America robotic-assisted imaging technologies market can be attributed to the high prevalence of chronic diseases such as cardiovascular diseases and cancer, among others, the growing geriatric population, and the high reimbursement rates. The North America medical device market is the early adopter of the latest technologies and has now turned into a technological hub for companies offering advanced solutions to the healthcare market.

The Europe robotic-assisted imaging technologies market is one of the markets with high growth potential. The major driving factors for cancer in Europe include the availability of good medical facilities, preference of interventional procedures by European people, high consumption of alcohol, and high preference and incidence of cancer.

The Asia-Pacific robotic-assisted imaging technologies market is one of the lucrative markets with immense potential for expansion by key players of the global robotic-assisted imaging technologies market.
The Asia-Pacific robotic-assisted imaging technologies market is expected to grow at the fastest rate during the forecast period. This can be attributed to the massive geriatric population base, demand for minimally invasive and non-invasive surgical procedures, and high prevalence rates of cancer.




What are the key trends of the global robotic-assisted imaging modalities market?

Robotic-assisted imaging technologies are one of the disruptive classes of medical devices and are influenced by various technological trends. 
  • Shift Toward Minimally Invasive Procedures
  • The shift to minimally invasive procedures is one of the breakthroughs in healthcare.
What are the market shares of key competitors in the global robotic-assisted imaging modalities market? 

The significant potential of robotic-assisted imaging technologies in addressing several types of cancers that are outcomes of sedentary lifestyles as well as geriatric diseases have made the global robotic-assisted imaging technologies market one of the most lucrative industries for players in the global healthcare scenario.
Becton, Dickinson and Company, Boston Scientific Corporation, and Terumo Corporation are the major contributors to the global robotic-assisted imaging technologies market. Extensive 13 product portfolio comprising supporting devices and treatment devices are the key factors for the dominance of these companies in the global market.

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ABOUT BIS HEALTHCARE

 BIS healthcare vertical offers intelligence in the healthcare technology market for precision medicine, robotics and imaging, life sciences and biopharma, medical devices, digital health, and other emerging healthcare technologies, covering the entire industry spectrum. In the past eight years, BIS Healthcare has published more than 50 reports under the precision medicine banner. Additionally, BIS Research has been nominating ‘Top 25 Voices’ in precision medicine on its InsightMonk platform for the past two years successfully.




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